The global digital bank FV Bank is the latest financial platform to enable deposits in Circle-backed stablecoin USD Coin (USDC).
FV Bank on Wednesday announced the launch of a new service allowing its account holders to make direct deposits in USDC to the bank’s U.S. dollar accounts. The new feature enables customers to receive USDC on their accounts similar to traditional deposits like wire or the automated clearing house network.
According to the announcement, received USDC funds are instantly and automatically converted into the U.S. dollar (USD) at the moment of deposit. This new solution allows FV Bank users holders to raise invoices to their international clients in USDC, enabling faster and cheaper transactions as well as conversions, the firm said.
“We believe this feature will greatly enhance